Chinese Seen Buying More Gold as Investors Seek Haven Assets
- Consumption grew 3.7% to 985.9 metric tons last year
- Buying rose as investors sought the safety of bullion
Gold Rises to Three-Month Highs
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China’s gold demand will keep expanding as investors seek safe assets and jewelry buying increases, the China Gold Association said.
Consumption in the country that vies with India as the world’s biggest user climbed 3.7 percent to 985.9 metric tons in 2015 from a year earlier, according to group data released on Wednesday. Demand rose as prices declined and investors allocated more wealth to the safety of bullion than to other financial assets, according to the association, which represents jewelers, refiners, banks, brokerages and miners.